U.S. Concrete Announces 1Q20 Earnings

May 5, 2020 | U.S. Concrete

U.S. Concrete Announces First Quarter 2020 Results

EULESS, Texas, May 5, 2020 -- U.S. Concrete, Inc. (NASDAQ: USCR), a leading producer of construction materials in select major markets across the United States, today reported results for the quarter ended March 31, 2020.

FIRST QUARTER 2020 RESULTS COMPARED TO FIRST QUARTER 2019(1)

  • Consolidated revenue increased 0.4% to $334.4 million
  • Ready-mixed concrete revenue increased 0.6% to $292.2 million
  • Aggregate products revenue increased 1.6% to $43.6 million
  • Aggregate products sales volume increased 5.4% to 2.6 million tons
  • Net loss was $2.8 million compared to $2.6 million
  • Total Adjusted EBITDA(2) was $34.2 million compared to $34.5 million
  • Net cash provided by operating activities more than doubled to $44.0 million
  • Adjusted Free Cash Flow(2) more than doubled to $36.9 million
  • Available liquidity of $152.6 million as of March 31, 2020, which does not include the additional $180 million of available liquidity from the delayed draw term loan credit facility entered into on April 17, 2020

Read the full release here >>

(1)Certain computations within this press release may reflect rounding adjustments.

(2)Total Adjusted EBITDA, Adjusted Free Cash Flow and related margins are non-GAAP financial measures. Please refer to the reconciliations and other information at the end of this press release.

Partners

Logo for Concrete Industry ManagementLogo for RMC Research & Education FoundationLogo for U.S. Green Building CouncilLogo for Green-Star NRMCALogo for Pave AheadLogo for Build with StrengthLogo for NSSGA